Definition

A responsibility or obligation that someone has, often related to money or debts.

Example

The company has a liability to pay its employees on time.

Conversation

I’ve been thinking about starting my own business, but I’m worried about the liability involved.

That’s a valid concern; you definitely need to consider the risks.

Yeah, I don’t want to end up with more debt than I can handle because of my liability issues.

It might be a good idea to talk to a financial advisor for some guidance.

Synonyms & Antonyms

Root Explanation

**Liability** → It is formed from "liabilis" (from Latin, meaning liable or bound) and the suffix "-ity" (meaning the state or condition of). The word "liability" refers to the state of being responsible or bound to pay a debt or fulfill an obligation.

Memory Tip

Think of being 'bound' ('liabilis') to something, and the '-ity' indicates a state. This helps you remember that liability means the state of being responsible for something.

Visually Confused Words